Microsoft has issued a press release stating that its CEO, Steve Ballmer, will retire "within the next 12 months", remaining in his position until a suitable successor is found. The precise reasons for Bullmer's departure were not given, though he was quoted as saying: There is never a perfect time for this type of transition, but now is the right timewe have embarked on a new strategy with a new organization and we have an amazing Senior Leadership Team. My original thoughts on timing would have had my retirement happen in the middle of our company’s transformation to a devices and services company. We need a CEO who will be here longer term for this new direction.The stock market reacted positively to the news, with Microsoft's share price opening 8% higher than the previous day's closing.
